Founder of ARK Invest Katie Woodremains optimistic that crypto-assets will thrive amid fears of systemic collapse of the industry.
Wood spoke on a new episode of the In the Know podcast. He says that cryptocurrencies are in a better position compared to a few weeks ago as they have been relatively quiet for the past few days.
“I can say that I feel much better about what is going on in the crypto world right now. bitcoin I can state that we have an opinion that goes from neutral to positive. We are waiting for a few more capitulation signals and of course time will tell on the systematic side here. We haven’t heard any other stress signals in the last few days, which is good.”
He further emphasized that the current market decline has secured the long-term outlook of the crypto industry and that the transparency of the crypto market can have a significant impact on traditional financial markets.
“What happened in the crypto market gives an idea of why it might work in the long run.
I think there is a lot more trust in the crypto ecosystem than there is in traditional financial markets because of the transparency and over-collateralization. We’re wondering about access for yield and how leveraged some of these situations are, and we don’t know where they’re hiding, and maybe that’s all.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.